TGS Teams Up with Enertel for Integrated Solutions

Energy data provider TGS is partnering with engineering and analytics solutions provider Enertel.

The collaboration “will deliver an integrated solution to empower operators with seamless access to TGS licensed well data through Enertel’s QuantumCast software platform”, TGS said in a news release.

The partnership will grant Enertel direct access to a customer’s entitled TGS well data, including the utilization of TGS Application Programming Interfaces (APIs) embedded directly within QuantumCast, facilitating enhanced operational efficiency and decision-making, TGS added. The well data provided by TGS within Enertel’s analytical platforms encompasses a comprehensive range of information, including well headers, formation tops, and logs, as well as production and completion data, according to the release.

“The alliance with Enertel marks a noteworthy advancement in enhancing the accessibility and effectiveness of critical well data for the energy industry”, Carl Neuhaus, Vice President of Onshore Products at TGS, said. “This initiative perfectly aligns with TGS’ commitment to delivering best-in-class data into customers’ workflows and applications”.

“Through the partnership with TGS Well Data, we are able to provide a comprehensive analytics platform for rapid forecasting, asset evaluation, and basin analytics”, Enertel Co-founder and CEO Fred Enochs said.

TGS claims it holds the industry’s largest well data library comprised of over 100 years of public and non-public sources, uniquely combining unparalleled volumes of quality-controlled well data with proven geological expertise.

Meanwhile, TGS ASA said that its planned merger with PGS ASA is continuing as scheduled after TGS shareholders approved the merger plan in December 2023. 

The merger is currently subject to ongoing review by the competition authorities in the United Kingdom (UK). In Norway, the Norwegian Competition Authority has continued its assessment of the transaction in a Phase II review, the company said in a separate news release.

Completion of the Merger remains conditional on the customary closing conditions, including the remaining regulatory approvals. The parties still expect that completion of the merger will occur in the second quarter of 2024.

TGS and PGS in September 2023 announced their plan to merge and create a “strong full-service energy data company”. The transaction will establish the combined company as a full-service geophysical data company with a strong offering in all segments, including Multi-Client data, streamer data acquisition, ocean bottom node (OBN) data acquisition, imaging, and new energy data, according to a joint statement from the two companies.

TGS and PGS shareholders will own approximately 2/3 and 1/3 of the combined company, respectively, based on the share capital of each of the companies as of September 15, 2023. The combined company will have a combined fully diluted market cap of approximately $2.616 billion.

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